Awilco Drilling wraps up semisub sale

North Sea contractor Awilco Drilling has completed the sale of the semisub rig WilPhoenix to Aberdeen-based decommissioning specialist Well-Safe Solutions.

The agreed purchase price for the 1982-built semi, which will continue as Well-Safe Defender, was around $15.5m. 

Awilco Drilling also stated that the short-term shareholder loan of up to $4m with Awilhelmsen Offshore and QVT Family Office Fund was repaid concurrently with this transaction.

The 1983-built WilHunter, Awilco Drilling’s other semi-submersible, is in the process of being sold for recycling, leaving the Oslo-listed company with no assets.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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